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Amgen To Buy Mustafa Nevzat For $700 Million

Biotechnology firm Amgen (AMGN) will buy a 95.6% stake in Mustafa Nevzat Pharmaceuticals for $700 million, in a move to expand its presence in Turkey and the surrounding region. The all-cash transaction has been approved by both the boards, the two companies said in a joint statement Wednesday. MN, which supplies pharmaceuticals to the hospital sector and is a major supplier of injectable medicines in Turkey, had revenue of approximately $200 million in 2011, the statement said. Amgen's focus on Turkey and the surrounding region, which are large, fast-growing, priority markets for Amgen, is a part of its international expansion strategy. Amgen established an affiliate in Turkey in 2010 and currently markets two products, with plans to develop its pipeline of clinical candidates for Turkey and other markets around the world. Order free Annual Report for Amgen, Inc. Visit http://djnewswires.ar.wilink.com/?link=AMGN or call 1-888-301-0513

Stock News for Amgen Inc. (AMGN)
DateTimeHeadline
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08/06/201603:03:00AbbVie Sues Amgen Over Humira -- WSJ
08/05/201616:57:00AbbVie Files Patent Suit Over Amgen's Copy of Humira -- Update
08/05/201614:50:00AbbVie Sues Amgen Over Humira
08/05/201614:33:00AbbVie Files Patent Suit Over Amgen's Copy of Humira
08/02/201619:30:00CVS Drops Coverage of 2 Branded Biotech Drugs in Favor of Copies
08/02/201618:47:00CVS Drops Coverage of 2 Branded Biotech Drugs in Favor of Copies
08/02/201610:28:00Advaxis Shares Higher on Collaboration Deal With Amgen
08/02/201608:00:00Amgen And Advaxis Enter Global Cancer Immunotherapies Collaboration
07/29/201616:50:00Quarterly Report (10-q)
07/28/201609:42:00U.S. Hot Stocks: Hot Stocks to Watch
07/27/201618:55:00Amgen Profit Rises 13%, 2016 Outlook Raised -- Update
07/27/201617:10:00Amgen Profit Rises 13%, 2016 Outlook Raised
07/27/201617:00:00Amgen Profit Rises 13%, 2016 Outlook Raised
07/27/201616:31:36Current Report Filing (8-k)

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